Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Flip a Coin:
Bridging the Gap Between…
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Introduction
Business Consulting Analyst for Nationwide
Financial and has been with the company 14
years; currently supporting NF Digital &
Distribution applications, capabilities, and
processes. Responsible for
providing thought leadership to
enable realization & delivery of
Business & IT strategies across
multiple applications and
business units.
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Myths re: Strategy
“We don’t need a new strategy to fix
our performance; we just need to
execute the one we have.”
 Planning solves everything
 We can never deviate from the plan
 Perfect planning yields perfect execution
 Strategists do not have to be involved
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Myths re: Execution
“You don’t win by having a better
strategy; you win through superior
execution.”
 Getting things done means progress
 Who cares as long as we deliver
 Strategy is out of touch with reality
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Strategy vs Execution
Total US National Debt
= ~$17 Trillion
JP Morgan Chase Total Assets
= ~$2.5 Trillion
That could pay for ~12.5% of the total debt!
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Strategy vs Execution
“I’d rather have a first-rate execution and
second-rate strategy any time than a
brilliant idea and mediocre management.”
- Jamie Dimon; CEO of JP Morgan Chase
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
If life were a movie
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Let’s discuss
 Shared characteristics of Strategy and Execution
 New perspectives and considerations to address
challenges
Key Insight:
Bridging the gap does not occur without:
1. Expectations
2. Transparency
3. Communication
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Same starting line
“Vulnerability is the birthplace of
innovation, creativity, and change”
– Brene Brown; author, speaker &
research professor at the
University of Houston
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Strategy
Defined
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Strategy
Defined
“…Figuring out something in
advance and making a
thoughtful plan to do it…”
– Bruce Mau , renowned designer
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Strategy
Characteristics
Strategy is comprised of…
Insight = Knowledge of why to do something
Direction = Guiding how to do something
Motivations = Reasons for doing something
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Execution
Defined
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Execution
Defined
“…a systematic way of exposing reality
and acting on it.”
-Larry Bossidy; retired CEO and
Ram Charan; renowned
management consultant
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Execution
Characteristics
Execution is comprised of…
Experience = Practice doing something
Alignment = Coordinating doing something
Commitment = Trusting in something
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Different sides
You acquire knowledge through practice
Knowledge
Insight
Practice
&
Experience
Insight is formed through Experience
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Different sides
You are unable to guide with coordination
Guiding
Direction
Coordinating
&
Alignment
Direction is enabled through Alignment
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Different sides
You are unable to trust without the right reasons
Motivations
Reasons
&
Commitment
Trust
Motivations are strengthened through commitment
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Same Coin
Strategy
&
Execution
Insight
&
Experience
Direction
&
Alignment
Motivations
&
Commitment
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Bridging the gap
Principles of success in Strategy & Execution:
1. Expectations
2. Transparency
3. Communication
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
Are not…
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
All about perspective
“We don’t see things as they are, we see
things as we are…”
– Anais Nin; author
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
Must have…
 Consensus even with conflicting goals
 Clear & concise message
 Understanding Goal, Value
and Benefit
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
Examples…
Not so well
Pretty well
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Transparency
Is not…
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Transparency
Simplify the complex
“Complexity is the enemy of clarity.”
- Andy Stanley; pastor, author and speaker
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Transparency
Must have…
 Coordination
 Accountability & Responsibility
 Process with the people &
technology to support
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Transparency
Examples…
Not so well
Pretty well
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Communication
Is not…
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Communication
Truly listen
“Most people do not listen with the intent
to understand; they listen with the intent
to reply.”
-Stephen R. Covey; author, educator, speaker and
businessman
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Communication
Must have…
 Collaboration
 Trust
 Conflict Resolution
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Communication
Examples…
Not so well
Pretty well
(maybe)
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
Without communication
Coordinated without momentum…
Transparency
 Only the “easy” gets done
 Promises without delivery
 Failure to progress
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Expectations
Without Transparency
Buy in without coordination…
 Competing for resources
Communication
 Failure to agree to deadlines and/or ways of
working
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Without expectations
Cooperation without purpose…
Transparency
 Everyone heading in different directions
Communication
 Teams going nowhere fast
 Running in circles
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Building the bridge!
Strategy
Expectations
Execution
Transparency
Communication
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Top 10 Considerations
Expectations
1.
2.
3.
4.
It’s alright to disagree…embrace it
Change the mindset…not the reasons why
Keep asking why…
Enable the ability to envision the potential
Transparency
5. Don't be afraid to question the way it is
6. Adjust the culture, but don't jump without a parachute
7. Remove the fear of failure and the perception it creates
Communication
8. Telling is not Leading!
9. People buy in to the individual before they buy in to the vision
10.We respond to the environment we are in
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
What did we discuss
 Shared characteristics of Strategy and Execution
 New perspectives and considerations to address
challenges
Key Insight:
Bridging the gap does not occur without:
1. Expectations
2. Transparency
3. Communication
Flip-a-Coin|Bridging the Gap Between Strategy & Execution
Thank you!
Contact information…
Corwin Smith
smithc42@nationwide.com
Office: (614) 677-1598
Cell:
(614) 289-8898